Paulson's Advantage Plus Fund Drops 51% in 'Aberrational Year'

``Paulson, 56, has scaled back bullish bets across his funds after suffering losses from holdings ranging from Citigroup Inc. to Sino-Forest Corp., the Chinese forestry company accused by short-seller Carson Block of overstating timberland holdings. One bet that worked for Paulson in the first part of the year was gold, which slumped 14 percent in the final four months of 2011, leaving his Gold Fund, which can buy derivatives and other gold-related securities, with an 11 percent loss last year. The fund declined 20 percent in December.'' -- It is a marvel Paulson managed to lose so much on gold...